IIM-B, C-CAMP partner to support entrepreneurs in life sciences

IIM Bangalore and C-CAMP sign MoU to set up of incubation centers at the C-CAMP and at NS Raghavan Centre for Entrepreneurial Learning for entrepreneurs in the life sciences field

From L-R: Prof S Ramaswamy, CEO, C-CAMP; Prof Pankaj Chandra, director, IIMB; Dr Renu Swarup, advisor, DBT and MD, BIRAC, were among the many eminent individuals present at IIM Bangalore during the announcement that a MoU has been signed between C-CAMP and IIM-B

Bangalore: On September 1, 2012, IIM Bangalore and C-CAMP signed an MoU to set up of incubation centers at the C-CAMP and at NS Raghavan Centre for Entrepreneurial Learning at IIM Bangalore for the entrepreneurs in the life sciences field. According to the MoU, the incubators at both the IIM Bangalore campus and at C-CAMP campus will incubate companies.

The prospective incubatee can apply at either NSRCEL or at C-CAMP and will be eligible to use the facilities provided by the other counterpart. The role of incubation will be to take a company to a point from where it can raise capital from the market in about 18-24 month period.

The NSRCEL and C-CAMP together hosted a workshop on "Entrepreneurship opportunities in LifeSciences". The workshop was targeted at start-ups in life sciences as well as aspiring entrepreneur who plan to start up a life sciences business.

The initial talk at the session was given by Professor Kumar K, IIMB, who spoke on entrepreneurship as a way of life. He began the talk by mentioning that society keeps throwing at us some ways or the other where we have to act like entrepreneurs. "Gone are the days where entrepreneurship meant only land, labor and capital. Now knowledge has become the prime driver of entrepreneurship," he said.

He also highlighted that earlier large corporations and government used to hire people. Now since they have reached saturation, people use their creative energies and are now not dependent only on those two. They themselves have become entrepreneurs. According to Prof Kumar, "Entrepreneurship is creating new with limited resources. It is dealing with uncertainties by taking action under your control, and society today demands entrepreneurs."